Speaking at the 5th Fintech Bund Summit in Shanghai on July 8, Fan Wenzhong argued that although blockchain is “an innovation with significant meaning,” it is a disservice to “mythologize” the technology.
Fan reportedly said that it is difficult to admit blockchain as a “revolution,” because the idea of multi-entry bookkeeping has been circulating for hundreds of years.
In May, a Chinese government analysis revealed that the average lifespan of a blockchain project is 1.22 years and only eight percent of blockchain projects launched are still alive.
Despite the gloomy analysis, China’s president Xi Jinping praised blockchain, calling it “part of technological revolution”.
Xi said: “Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity.
UBS Group CEO Sergio Ermotti is not a fan of cryptocurrencies. However, he said that blockchains could be used to reduce costs in the financial services industry and noted that it could help in improving gross margins.
New Platform Digitizes The ‘Socios’ Model, Fusing Crowd-Management With Blockchain Technology To Create A New Era Of Fan Engagement & Monetization In Football
Mediarex, the Malta-based, Binance-backed fintech and sports company, who recently raised more than $65 million through a private token sale for its blockchain-based sports platform, will launch the world’s first fan engagement and fan monetization platform for the football industry through Socios.
Jeff Garzik first tuned the world into his latest venture in the fall of 2017. The Bloq co-founder unveiled Metronome (MET), a cryptocurrency he founded alongside Matthew Roszak, at the Las Vegas Money 20/20 conference in late October, and the project caught the attention of Bloomberg and Fortune at the time.
The Chinese President is big on CBDCs. Be Open and Accommodating to CBDCs, Says China According to an official statement released by the Ministry of Foreign Affairs of the People’s Republic of China, Chinese President, Xi Jinping, has asked the G20 countries to be receptive to central bank digital currencies (CBDCs).
Chinese Prime Minister Xi Jinping has urged heads of government to take an “open and accommodating” stance toward Central Bank Digital Currencies (CBDCs), as the global economy attempts to recover from the fallout of the COVID-19 pandemic.
China President Xi Jinping bats for an international regulatory framework for digital currency. China Should take a Proactive Approach In an official statement released on October 31 titled ‘Issues on National Medium and Long-Term Social and Economic Strategies,’ Chinese President called for the Asian powerhouse to actively partake in creating a global regulatory framework forRead MoreRead More.
On Wednesday, Bitcoin logged a supersonic bull run, hitting $13,000 for the first time in 15 months. The rally started after PayPal announced its foray into the cryptocurrency sector, leading analysts to believe that the $138 billion global payments firm drove the latest Bitcoin adoption.
China has passed the country’s long-awaited civil code which expands the scope of inheritance rights to include cryptocurrency, such as bitcoin. Inherited cryptocurrencies will be protected under the new law.